Clothing modifier is pulling clothing up instead of down
There are two things that might be going on.  One is the collision size of the mesh collider:



Here my mesh collider's "outer" setting is so high that my cloth floats above it.  If that's too high, your cloth won't ever cling to your body.

The other thing is that your dress is too small.  It's about as wide as the cross section of the model, but just like a circle has to be pi times bigger than its diameter to wrap around, so does your cloth have to be about pi times bigger than your body to wrap around.  Your dress tries to minimize the size of the sewing lines, and to do that, it scrunches up at the waist, pulling the rest of the dress with it.